RAIL  ROAD. 


JUNCTION 


/  SCONS /N 


AN  ACT 

TO 


INCORPORATE  THE  JUNCTION  RAILROAD  COMPANY. 


' 


THE  JUNCTION  RAILROAD  COMPANY. 


The  railway  systems  of  the  United  States  are  so  far  developed 
as  to  show  that  six  principal  lines  will  be  constructed  between 
the  Atlantic  and  Western  states.  The  most  northern  will  pass 
through  Canada  and  Michigan ;  a  branch  of  the  most  southern, 
from  Georgia  to  Nashville,  will  probably  cross  the  Ohio  river  at 
Cincinnati ;  the  other  four  must  pass  through  the  state  of  Ohio. 

The  most  southern  of  the  four  will  extend  from  Cincinnati, 
by  Chilicothe,  to  some  convenient  point  of  connection,  on  the 
river,  with  the  Baltimore  and  Ohio  Railroad.  The  next  line 
will  pass  nearly  through  the  centres  and  capitals  of  the  states  of 
Illinois,  Indiana  and  Ohio,  to  Zanesville,  and  from  thence  prob¬ 
ably  diverging  to  Pittsburg  and  Wheeling.  The  third  is  an 
extension  of  the  Pennsylvania  Railroad  from  Pittsburg  west¬ 
ward,  along  the  ridge  dividing  the  lake  waters  from  those  of  the 
Ohio  river.  The  fourth  is  the  railroad  along  the  lake  shore. 
To  some  one  of  these  roads,  all  other  Ohio  railroads  must  be 
subordinate  and  tributary;  and  the  last  is  beyond  measure  the 
most  important,  since  it  will  be  the  ordinary  and  most  natural 
channel  of  communication  between  New  York  and  New  Eng¬ 
land  and  the  “  Great  West.’’ 

From  Albany  to  Buffalo  a  railway  has  subsisted  for  some 
years.  The  New  York  and  Erie  Railroad  is  now  completed 
to  Dunkirk,  on  Lake  Erie.  A  railway  is  now  far  advanced  to 
completion,  on  the  lake  shore,  from  Buffalo,  by  Dunkirk,  to 
Erie — thus  extending  both  roads  to  that  point.  Two  other 
companies  will  complete  the  communication  between  Erie  and 
Cleveland,  by  mid-summer  of  1852. 

The  Southern  Michigan  Railroad  Company  have  a  road  in 
use  from  Toledo  one  hundred  and  fifteen  miles  westward,  and 
will  finish  it  to  Chicago  before  many  months.  Another  line  is 
already  in  operation  from  Chicago  many  miles  west ;  and  a  cor¬ 
poration,  whose  principal  stockholders  are  in  New  York,  has 
just  been  organized,  to  extend  the  last  road  to  *the  Mississippi, 


4 


at  Rock  Island.  Existing  means  and  measures,  therefore,  are 
rapidly  constructing  a  series  of  railroads  from  New  York  to  the 
Mississippi,  a  distance  of  more  than  eleven  hundred  miles,  with 
no  other  interruption  except  the  one  hundred  and  one  miles  be¬ 
tween  Cleveland  and  Toledo.  This  link  is  intended  to  be  sup¬ 
plied  by  the  Junction  Railroad. 

The  charter  of  this  company  was  granted  by  the  Ohio  Legis¬ 
lature  in  1840,  and  the  company  was  organized  in,  1850.  The 
name  was  adopted  to  express  the  intention  of  its  projectors,  viz : 
to  connect  the  Cleveland  and  Columbus  with  the  Mad  River 
and  Lake  Erie  Railroads.  An  amended  act  extends  the  line  to 
some  point  on  the  Maumee,  and  to  Toledo ;  by  a  second 
amendment,  the  company  is  authorized  to  terminate  its  road  at 
the  west  line  of  the  state  of  Ohio,  and  the  capital  increased  to 
$3,000,000.  The  distance  from  Cleveland  to  Sandusky  is  58 
miles  ;  the  distance  from  Sandusky  to  Toledo  is  43  miles,  and 
from  Sandusky  to  Maumee  City,  which  occupies  much  of  the 
same  ground,  is  48  miles. 

The  amending  act  authorizes  the  counties,  townships,  cities 
and  incorporated  towns  through  which  the  Junction  Railroad 
will  pass,  to  subscribe  to  its  stock,  provided  a  vote  of  the  respec¬ 
tive  inhabitants,  assenting  to  such  subscription,  shall  first  be 
obtained.  In  the  event  of  such  subscription,  the  act  requires 
the  respective  county  and  municipal  authorities  to  issue  bonds 
in  payment,  and  annually  to  levy  a  tax  sufficient  to  pay  the 
principal  and  interest,  as  it  shall  become  due.  This  tax  is  to  be 
reported  to  the  county  auditor,  and  collected  by  the  county  treas¬ 
urer,  on  the  same  duplicate,  and  in  the  same  manner,  as  state 
taxes.  If  the  municipal  authorities  should  neglect  their  duties, 
the  same  act  requires  the  county  auditor  to  levy  such  tax,  at 
the  instance  of  any  creditor  whose  debt  is  in  arrears.  This  duty 
of  the  county  auditor  can  be  enfored,  if  necessary,  by  the  Su¬ 
preme  Court,  through  a  writ  of  mandamus.  The  act  further 
authorizes  the  railroad  company  to  sell,  at  their  market  value, 
boih  its  own  bonds  and  such  as  it  may  receive  upon  subscrip¬ 
tion  ;  and  it  further  declares,  that  the  issue  of  bonds  shall  be 
taken  as  evidence  that  all  preliminary  conditions  hare  been 
complied  with. 

By  these  facilities,  and  others  to  be  noticed  hereafter,  the 
Junction  Railroad  Company  has  received  subscriptions  which 
nominally  exceed  $000,000 ;  has  surveyed  and  located  its  line 
from  Cleveland  to  Sandusky,  and  is  now  extending  its  prelimi¬ 
nary  surveys  to  the  Maumee  river.  As  Lake  Erie  makes  a  con¬ 
siderable  bend  between  Cleveland  and  Toledo,  the  line  nearest 
the  shore  is  naturally  indicated  as  the  shortest  and  best.  But 


5 


the  expense  of  crossing  Rocky  river,  at  its  mouth,  on  a  viaduct 
or  bridge  almost  one  quarter  of  a  mile  long,  and  nearly  one 
hundred  feet  above  the  water,  constrains  the  adoption  of  an  in- 
teriorjine,  crossing  at  the  lower  falls,  at  much  less  cost,  and  at 
a  small  increase  of  distance,  as  the  lake  shore  trends  almost  as  far 
north  as  the  road  line  is  deflected  to  the  south. 

The  Cleveland  and  Columbus  railroad  crosses  Rocky  river 
on  the  same  rapids.  That  road  then  adopts  the  approach  to 
Cleaveland  and  the  lake  level  by  Wallworth  Run,  and  after 
crossing  the  Cuyahoga,  south  of  the  town,  passes  to  its  station, 
to  the  mouth  of  the  river,  on  its  east  side.  On  the  west  side  of 
the  Cuyahoga,  at  its  mouth,  lies  the  flat  of  Ohio  city,  accessible 
to  lake  navigation,  offering  ample  room  for  the  indispensa¬ 
ble  railroad  accommodation,  and  a  straight  line  and  an  even 
grade  from  the  lake  level  to  the  table  land.  These  considera¬ 
tions  have  led  the  Junction  Railroad  Company  to  lay  its  line 
to  navigable  waters  on  the  west  bank  of  the  Cuyahoga,  and  to  a 
point  separated  by  the  fiver  only  from  the  eastern  railroad  sta¬ 
tions.  Competent  engineers  believe  the  river  can  be  crossed 
without  seriously  impeding  navigation.  The  Junction  Railroad 
Company  has,  therefore,  selected  the  following  line :  beginning 
at  Ohio  City,  thence  by  Olmstead  and  Elyria  to  the  lake 
shore  at  Vermillion  river;  thence  along  the  shore  by  Huron  to 
Sandusky.  From  Sandusky  westward  the  route  is  not  yet 
fixed,  but  will  probably  cross  the  narrowest  part  of  Sandusky 
Bay,  to  Port  Clinton,  and  thence  to  Maumee  and  Toledo, 
in  some  form  best  calculated  to  accommodate  all  interests. 
This  line  is  at  least  ten  or  twelve  miles  shorter  than 
any  other  that  has  been  recommended  or  proposed,  and 
it  possesses  corresponding  advantages  over  any  other  line 
in  curves,  grades,  bridges,  and  cheapness  of  construction.  The 
estimated  expense  from  Sandusky  to  Cleveland,  including  all 
except  iron,  spike,  running  machinery  and  stations,  is  $564,606, 
or  $8,700  per  mile.  The  cost  of  the  road  west  of  Sandusky 
will  be  legs. 

The  directors  have  received  such  favorable  offers  from  con¬ 
tractors,  as  leads  them  to  believe  that  their  present  subscrip¬ 
tion,  added  to  such  stock  as  contractors  are  willing  to  receive  in 
payment,  is  sufficient  to  meet  the  cost  of  construction,  except  pro¬ 
viding  iron  or  spike  ;  and  that  if  a  part  of  their  bonds  can  be  sold 
the  remaining  credits  of  the  company  can  be  used  advantageous¬ 
ly  at  home.  Intending  to  reserve  the  privilege  of  charging  the 
road  with  a  mortgage  for  iron,  they  now  wish  to  place  in  market 
two  classes  of  their  bonds — one  hundred  thousand  dollars  of  the 
city  of  Ohio7  andjx  similar  amount  of  the  township  of  Portland. 


These  bonds,  it  will  be  observed,  are  not  obligations  of  the 
railroad,  but  of  municipal  corporations.  It  is  not,  therefore,  a 
question  whether  the  railroad  will  be  productive,  or  even  wheth¬ 
er  it  will  be  built,  but  whether  these  cities  possess  means  or 
credit  sufficient  to  pay  these  bonds. 

The  credit  of  the  state  of  Ohio  is  pre-eminently  sound. 
Whispers  of  repudiation  found  no  favor  even  in  hard  times  ;  the 
steadily  increasing  wealth  and  productiveness  of  that  commu¬ 
nity  seem  to  remove  the  temptation  to  deny  any  existing  obli¬ 
gation  ;  and  the  new  constitution  of  the  state,  which  has  been 
adopted  by  a  large  majority  of  the  convention,  and  which  will 
probably  be  accepted  by  the  vote  of  the  citizens  in  June,  will 
completely  suppress  all  future  debts,  for  improvements,  by  state, 
counties,  or  municipal  corporations.  Apart  from  these  con¬ 
siderations,  the  law  which  permits  the  issue  of  these  bonds,  pro¬ 
vides  for  their  payment  by  taxation  ;  and  if  property  liable  to 
taxation  can  be  found  by  the  tax  collector,  it  can  be  sold  with¬ 
out  appraisal  or  delay.  The  only  question,  therefore,  to  be 
made  is,  whether  the  town  and  cities  have  sufficient  taxable 
property  to  secure  them. 


OHIO  CITY  BONDS. 

In  June  1850,  the  city  of  Cleveland  had  a  population  exceed¬ 
ing  17,000.  It  lies  at  the  confluence  of  the  Cuyahoga  river  with 
Lake  Erie.  It  is  situated  on  a  plain,  elevated  about  130  feet 
above  the  waters  of  the  river  and  lake,  which  nearly  surround 
it ;  and  in  beauty  of  situation  and  style  of  improvement  is  un¬ 
surpassed  by  any  western  town.  The  high  hill  approaches 
closely  to  the  river  on  the  west,  and  terminates  in  a  bluff  bank 
on  its  lake  front,  except  where  graded  to  the  water.  On  the 
south,  beneath  the  hill,  the  Ohio  canal  enters  the  river.  The 
Cleveland  and  Columbus  railroad  crosses  the  river  at  the  south¬ 
west  angle  of  the  town,  and  extends  under  the  hill  by  the  lake. 
The  lake  front  is  occupied  by  the  lines  of  the  Lake  Shore  rail¬ 
road  and  the  Pittsburgh  railroad,  which  are  built  in  the  water 
upon  piles,  for  want  of  level  ground  beneath  the  bank.  The 
narrow  space  beneath  the  hill  is  too  small  for  the  present  busi¬ 
ness  of  the  town  ;  and  it  admits  of  no  enlargement,  except  by 
constructing  wharves  on  the  lake,  or  by  crossing  the  river. 

The  Cuyahoga,  at  its  mouth,  is  about  200  feet  wide.  On  the 
west  side  of  the  river  lies  Ohio  City,  connected  with  Cleveland 
by  bridges,  and  identical  with  it  in  all  its  business  interests. 


7 


The  hill,  which  in  Cleveland  approaches  the  lake  so  closely, 
here  recedes,  and  leaves  a  wide  flat,  nearly  on  the  level  with  the 
water,  and  well  adapted  to  business  purposes  On  this  flat  the 
heavy  business  of  the  port  must  be  transacted.  Already,  upon 
it  are  the  ship  and  lumber  yards,  all  the  grain  warehouses,  a 
large  proportion  of  the  general  warehouses,  some  of  the  large 
manufactories,  and  much  of  the  mechanical  labor. 

The  population  of  Ohio  City  exceeds  6,000.  The  railroads 
just  opened  have  given  a  great  stimulus  to  the  business  of  this 
port ;  and  no  where  in  the  West  is  found  higher  prosperity  than 
in  these  two  cities.  Until  this  stimulus  was  felt,  the  Ohio  City 
property  had  not  recovered  its  value  from  the  speculations  of 
1836  ;  but  the  next  assessment  for  taxes,  which  will  be  made 
next  spring,  is  estimated  by  no  one  to  fall  below  ten,  and  per¬ 
haps  may  approach  fourteen  hundred  thousand  dollars.  The 
city  owes  no  debts  except  for  gradiDg  the  streets,  which  is  redu¬ 
ced  below  $9,000,  and  is  in  the  course  of  speedy  redemption. 

The  bonds  now  offered  are  $1000  seven  per  cents.,  payable  in 
1865,  at  the  Ohio  Trust  Company’s  New  York  office,  with  inter¬ 
est  warrants  attached.  The  law  requires  the  interest  to  be  pay¬ 
able  annually.  The  bonds  contain  a  provision  for  holding  the 
stock  as  a  pledge  for  the  bonds,  and  to  permit  the  bondholder  to 
commute.  No  vote  of  the  citizens  was  required  before  sijbscrip- 
tion:  the  subscription,  however,  is  understood  to  have  been 
made  with  their  full  concurrence. 

The  city  of  Cleveland  has  wisely  incurred  a  debt  of  $400,- 
000  for  railroad  improvements,  by  which  it  has  increased  its  bu¬ 
siness,  its  credit  and  its  wealth.  Ohio  City,  with  one-third  its 
population,  has  contracted  this  debt  of  one-fourth  the  same 
amount  for  the  same  objects,  hoping  to  secure  corresponding 
benefits.  By  a  law  of  last  winter,  both  cities  will  probably 
soon  be  united,  but  the  debts  of  each  will  remain  distinct. 

THE  TOWNSHIP  OF  PORTLAND,  OR  SANDUSKY  CITY  BONDS. 

These  bonds  are  issued  by  the  township,  because  there  is  sub¬ 
jected  to  taxation,  for  their  redemption,  not  only  the  property  of 
Sandusky  City,  but  of  the  suburbs,  covering  a  territory  of  near¬ 
ly  5000  acres.  In  1844,  the  inhabitants  of  the  township  did 
not  exceed  1700.  By  the  census  of  June,  1850,  taken  while  the 
population  was  diminished  by  apprehensions  of  the  return  of 
the  pestilence,  the  number  exceeded  5000  ;  and  it  now  contains 
more  than  6000.  This  rapid  growth  has  arisen  from  its  being 
the  terminating  point  of  two  railroads,  viz  :  the  Mad  River  and 
Lake  Erie,  which  is  open  to  Cincinnati,  218  miles,  and  the 


8 


# 

Sandusky  and  Newark  railroad,  115  miles.  More  wheat  is 
shipped  from  Sandusky  than  from  any  other  port  of  Lake  Erie. 
The  custom  house  value  of  imports  for  1850  was  $8,740,000  ; 
inhabitants  was  never  greater  than  during  this  year.  There 
the  value  of  exports  for  the  same  year,  $4,758,000.  The  asses¬ 
sed  value  of  property  for  taxation  is  between  thirteen  and  fourteen 
hundred  thousand  dollars ;  and  the  increase  of  buildings  and 
are  two  debts  now  outstanding  against  this  town — a  subscription 
of  $15,000  for  plank  roads,  and  an  expenditure  of  nearly 
$20,000  for  dredging  the  harbor.  The  first  is  redeeming  itself, 
by  the  dividends  of  the  plank  roads,  and  is  not  regarded  as  a 
burden ;  the  last,  if  it  should  not  be  assumed  by  the  General 
Government,  is  considered  to  have  been  already  repaid,  since  by 
this  has  been  secured  a  safe  approach  to  a  good  harbor. 


The  charter  of  the  Junction  Railroad  Company,  and  its 
amendments,  and  the  special  laws  authorizing  the  issue  of  the 
bonds,  are  subjoined;  and  the  directors  of  the  Junction  Rail¬ 
road  Company  believe  they  justify  their  fullest  recommenda¬ 
tions  of  the  road  to  the  attention  of  capitalists. 

The  accompanying  maps  sufficiently  show  the  connections  of 
the  road,  and  that  it  is  an  indispensible  link  in  a  line  scarcely 
second  in  importance  to  any  in  the  United  States. 

E.  LANE,  President . 


Sandusky,  April  10,  1851. 


AN  ACT 

TO 

INCORPORATE  THE  JUNCTION  RAILROAD  COM¬ 
PANY. 

Sec.  1.  Be  it  enacted  by  the  General  Assembly  of  the  State 
of  Ohio ,  That  Heman  Ely,  Artemas  Beebe,  Eber  W.  Hubbard, 
Seymour  W.  Baldwin,  Albert  A.  Bliss,  Horace  A.  Kendall,  of 
the  county  of  Lorain ;  Benjamin  Benson,  George  G.  Baker, 
Platt  Benedict,  and  Frederick  S.  Chapman,  of  the  county  of 
Huron*;  John  Fuller,  George  W.  Choate,  D.  Hamilton,  Foster 
M.  Follett,  and  Burr  Higgins  of  the  county  of  Erie  ;  R.  P. 
Buckland,  Jesse  S.  Olmstead,  of  the  county  of  Sandusky,  and 
those  who  may  hereafter  become  stockholders,  in  the  manner 
hereinafter  prescribed,  their  successors  and  assigns,  be,  and  they 
-are  hereby  created  a  body  corporate  by  the  name  and  style  of 
the  Junction  Railroad  Company,  with  perpetual  succession,  and 
by  that  name  and  style  shall  be,  and  hereby  are  made  capable, 
in  law,  to  have,  purchase,  receive,  possess,  sell,  convey  and  enjoy 
real  and  personal  estate,  and  retain  to  them,  their  successors  and 
assigns,  all  such  lands,  tenements  and  hereditaments  as  shall  be 
requisite  and  actually  necessary,  for  their  accommodation  and 
convenience  in  the  transaction  of  their  business  ;  to  sue  and  be 
sued  ;  implead  and  be  impleaded,  answer  and  be  answered  unto, 
defend  and  be  defended,  in  courts  of  record  and  elsewhere  ;  and, 
also,  to  have  and  use  a  common  seal,  and  the  same  to  alter, 
break,  renew  or  change  at  pleasure. 

Sec.  2.  The  said  corporotion  are  hereby  vested  with  the 
right  and  authority  to  construct  a  railroad,  commencing  at  such 
point  on  the  Cleveland,  Columbus  and  Cincinnati  railroad  as  the 
directors  may  select,  either  in  the  county  of  Cuyahoga  or  Lo¬ 
rain,  and  within  30  miles  from  Cleveland  ;  thence  to  Elyria  in 
Lorain  County,  unless  the  junction  with  the  Cleveland  and  Col¬ 
umbus  road  should  be  made  at  Elyria;  and  from  thence,  on  the 
most  feasible  route  to  intersect  the  Mad  River  and  Lake  Erie 


10 


railroad  at  Bellevue,  or  at  such  other  point  as  the  directors  shall 
choose,  and  thence  to  Lower  Sandusky,  in  Sandusky  county ; 
and  the  said  corporation  shall  have  power  to  construct  the  said 
railroad,  or  a  branch  of  the  same,  from  Elyria  to  Sandusky  City, 
in  Erie  county,  and  from  thence  to  Lower  Sandusky;  and, also, 
if  the  directors  of  said  company,  and  the  directors  of  the  Cleve¬ 
land,  Columbus  and  Cincinnati  railroad  company,  cannot  agree 
upon  the  term3  of  junction  with  said  Cleveland,  Columbus,  and 
Cincinnati  railroad  company,  then,  in  that  case,  the  railroad 
shall  commence  at  the  city  of  Cleveland,  Cuyahoga  county  ;  or 
the  directors  of  the  respective  companies  may  agree  that  the 
terms  of  a  junction  between  the  two  companies  may  be  decided 
by  the  supreme  court. 

Sec.  3  That  the  capital  stock  of  said  company  shall  be  one 
million  of  dollars,  and  shall  be  divided  into  shares  of  fifty  dol¬ 
lars  each. 

Sec.  4.  That  the  above  named  persons,  or  any  ten  of  them, 
are  authorized  to  open  books  for  receiving  subscriptions  to  the 
capital  stock  of  said  corporation,  to  be  opened  at  such  time  or 
times,  and  at  such  place  or  places,  as  they  may  deem  expedient, 
under  the  direction  of  not  less  than  three  of  the  persons  named  as 
aforesaid,  having  given  not  less  than  ten  days’  previous  notice 
in  a  newspaper  published  in  the  count}7  where  books  of  sub¬ 
scription  are  to  be  opened,  of  the  time  and  place  of  opening 
said  books  ;  and  as  soon  as  twenty  thousand  dollars  of  said 
stock  shall  be  subscribed,  they  may  give  a  like  notice  for  the 
meeting  of  stockholders  to  meet  at  such  time  and  place  as  they 
may  designate,  to  choose  directors,  to  continue  in  office  for  the 
term  of  one  year,  and  until  others  are  duly  appointed  in  their 
stead.  At  the  time  and  place  appointed,  thirteen  directors  shall 
be  chosen,  by  ballot,  by  such  of  the  stockholders  as  shall  attend 
for  that  purpose,  either  in  person  or  lawful  proxies  ;  each  share 
of  the  capital  stock  shall  entitle  the  owner  to  one  vote  ;  the  per¬ 
sons  named  in  the  first  section  of  this  act,  or  such  of  them  as 
may  be  present,  shall  be  inspectors  of  such  election,  and  shall 
certify,  under  their  hands,  what  persons  are  elected  directors, 
and  appoint  the  time  and  place  for  holding  the  first  meeting  of 
directors ;  seven  directors  shall  form  a  board,  and  be  compe¬ 
tent  to  transact  all  business  of  the  corporation ;  a  new  election 
of  directors  shall  be  made  annually,  at  such  time  and  place  as 
the  stockholders,  at  their  first  meeting,  shall  appoint,  or  as  the 
laws  of  the  corporation  may  require  ;  and  the  directors  chosen 
at  any  election  shall,  as  soon  thereafter  as  may  be  convenient, 
choose  out  of  their  number  one  person  to  be  president,  and  one 
to  be  treasurer  of  the  corporation. 


II 


Sec.  5.  That  upon  every  subscription  there  shall  be  paid,  at 
the  time  of  subscribing,  to  the  person  authorized  to  open  said 
books,  the  sum  of  five  dollars  upon  every  share  subscribed,  or 
the  same  may  be  secured  to  be  paid  when  called  for  by  the  di¬ 
rectors,  at  the  option  of  the  person  receiving  such  subscriptions, 
and  the  residue  thereof  shall  be  paid  in  such  installments,  and 
at  such  times  as  may  be  required  by  the  president  and  directors 
of  said  company,  to  the  treasurer  thereof ;  and  the  said  compa¬ 
ny  are  authorized  to  take  and  receive  from  such  persons  as  shall 
purchase  such  stock,  such  bonds  or  notes  for  the  residue  of  the 
purchase  money  of  said  stock  as  they  may  think  expedient. 

Sec.  6.  That  if  the  said  railroad  company  shall  not  be  or* 
ganized  within  five  years  from  the  date  of  the  passage  of  this 
law,  and  not  less  than  twenty  miles  of  the  road  be  completed 
within  ten  years  from  the  commencement  of  the  work,  then  this 
act  shall  be  null  and  void. 

Sec.  7.  That  the  directors  shall  have  power  to  determine 
the  number  and  kind  of  tracts,  turnouts,  branches,  carriages, 
conveyances,  storehouses,  depots,  and  other  fixtures  and  ma¬ 
chinery  :  prescribe  the  mode  of  transportation,  and  have  power 
to  construct  a  single  or  double  track  railroad. 

Sec.  8.  That  said  company  shall  have  a  right  to  enter  upon 
any  land  to  survey  and  lay  down  said  road,  and  to  take  any  ma¬ 
terials,  except  timber,  upon  the  condition  hereafter  specified, 
necessary  for  the  construction  and  repair  of  said  work ;  and 
whenever  any  lands  or  materials  shall  be  taken  for  the  construo* 
tion  of  said  work,  and  the  same  shall  not  be  given  or  granted  to 
said  company,  and  the  owners  thereof  do  not  agree  with  said 
company  as  to  the  compensation  to  be  paid  therefor,  or  in  case 
the  owner  or  owners  are  under  any  disability  to  contract  or  are 
absent  from  the  state,  application  may  be  made  by  the  said  com¬ 
pany  to  any  judge  of  the  court  of  common  pleas  of  the  county 
in  which  such  lands  or  materials  may  be,  and  thereupon  it  shall 
be  the  duty  of  said  judge  to  issue  his  warrant  to  the  sheriff  of 
said  county,  commanding  him  to  summon  three  disinterested 
freeholders  to  arbitrate  upon  the  compensation  to  bo  awarded 
to  such  person  or  persons,  who  shall  be  sworn  and  paid  as  in 
other  cases  ;  and  they,  or  a  majority  of  them,  shall  award  as 
arbitrators  between  the  two  parties,  and  render  copies  of  their 
award  to  each  of  the  parties,  in  writing,  from  which  award  either 
party  may  appeal  to  the  court  of  common  pleas  for  the  county 
in  which  such  land  or  materials  may  have  been  situated ;  and 
in  all  cases  where  compensation  shall  in  any  manner  be  claimed, 
it  shall  be  the  duty  of  the  arbitrators  and  the  court  to  estimate 
and  set  off  any  advantage  which  the  location  and  construction 


of  said  read  may  be  to  the  claimant ;  and  said  company  shall 
have  the  right  to  retain,  own,  hold  and  possess  said  materials, 
upon  first  paying  or  tendering  to  the  owner  or  owners  thereof  a 
reasonable  compensation  in  money,  for  the  same,  and  to  the  use 
and  occupation  of  said  lands,  as  fully  and  absolutely  as  if  the 
same  had  been  granted  and  conveyed  to  said  company  by  deed  : 
Provided,  that  before  the  said  company  shall  enter  upon  any 
land  for  the  purpose  of  constructing  the  said  road,  they  shall 
pay  or  secure  to  the  owner  of  such  land,  payment  for  the  same, 
as  may  be  awarded  by  the  provisions  of  this  section* 

Sec.  9.  That  if  it  shall  be  necessary,  in  the  selection  of  the 
route  or  construction  of  the  road,  to  connect  the  same  with,  or 
to  use  any  road,  street  or  bridge  made  or  erected  by  any  compa¬ 
ny  or  persons  incorporated  or  authorized  by  any  law  of  this 
state,  it  shall  be  lawful  for  the  said  company,  and  it  is  hereby 
authorized  to  contract  and  agree  with  any  such  other  corpora¬ 
tion  or  person  for  the  right  to  use  such  road,  street  or  bridge, 
or  for  the  transfer  of  any  of  the  corporate  or  other  rights  and 
privileges  of  such  corporation  or  persons,  to  the  said  president 
and  directors  of  this  corporation  ;  and  all  such  other  corpora¬ 
tions  or  persons  incorporated  by,  or  acting  under  the  laws  of 
this  state,  are  hereby  authorized  to  make  such  an  agreement, 
contract  or  transfer  by  and  through  the  agency  of  their  corpo¬ 
rate  officers,  or  by  such  persons  as,  by  any  law  of  this  state,  are 
intrusted  with  the  direction  and  management  of  such  road,  street 
or  bridge ;  and  every  contract  to  transfer,  made  in  pursuance  of 
the  authority  hereby  granted,  when  executed  by  the  several 
parties,  under  their  respective  corporate  seals,  or  otherwise  le¬ 
gally  authenticated,  shall  vest  in  this  corporation  all  the  rights 
and  privileges  vested  in  said  corporation  or  persons,  as  shall  be 
specified  in  the  contract  and  agreement  above  referred  to 

Sec.  10.  Whenever  it  shall  be  necessary,  for  the  construc¬ 
tion  of  the  railroad,  to  intersect  or  cross  any  stream  of  water  or 
watercourse,  or  any  railroad  or  highway,  lying  in  or  across  the 
route  of  said  road,  it  shall  be  lawful  for  the  corporation  to  con¬ 
struct  the  said  railway  across  or  upon  the  same ;  but  the  corpo¬ 
ration  shall  restore  the  stream  or  watercourse,  road  or  highway, 
thus  intersected,  to  its  former  state,  or  place  it  in  such  condi¬ 
tion  as  not  to  impair  its  former  usefulness  ;  and  if  said  corpora¬ 
tion,  after  having  selected  a  route  for  said  railway,  find  any  ob¬ 
stacle  in  continuing  said  location,  either  by  the  difficulty  of  con¬ 
struction  or  procuring  the  right  of  way  at  a  reasonable  cost,  or 
whenever  a  better  and  cheaper  route  can  be  had,  it  shall  have 
authority  to  vary  the  route  and  change  the  location. 

Sec,  11.  That  said  corporation  may  demand  and  receive 


u 


from  all  persons  travelling  upon  said  road,  or  for  the  transpor¬ 
tation  of  property,  such  rates  of  toll  as  the  corporation  may 
think  reasonable,  which  rates  they  shall  have  posted  up  in  some 
public  place  at  each  of  the  depots. 

Sec.  12.  That,  at  the  regular  annual  meeting  of  the  stock¬ 
holders  of  said  company,  it  shall  be  the  duty  of  the  president 
and  directors,  in  office  for  the  previous  year,  to  exhibit  a  clear 
and  distinct  statement  of  the  affairs  of  the  company;  and  the 
president  and  directors  shall,  annually  or  semi-annually,  declare 
and  make  a  true  dividend  of  the  nett  profits  arising  from  the 
revenues  of  the  company,  deducting  the  necessary  current  and 
probable  contingent  expenses,  and  that  they  shall  divide  the 
same  among  the  stockholders  of  said  company,  in  proportion  to 
their  respective  shares. 

Sec.  13.  That  every  president,  director,  treasurer  and  sec¬ 
retary  of  said  company,  before  he  acts  as  such,  shall  swear  or 
affirm,  as  the  case  may  be,  that  he  will  well  and  truly  discharge 
the  duties  of  his  said  office,  to  the  best  of  his  skill  and  judg¬ 
ment  ;  and  the  arbitrators,  authorized  by  the  eighth  section  of 
this  act,  before  they  proceed  to  estimate  damages,  shall,  sever¬ 
ally,  take  an  oath  or  affirmation  faithfully,  impartially,  and  hon¬ 
estly  to  discharge  their  duty  ;  and  the  said  appraisers  shall, 
severally,  receive  for  their  services  one  dollar  per  day  for  every 
day  they  may  necessarily  be  employed,  which  shall  be  paid  by 
said  corporation 

Sec.  14.  The  said  President  and  directors,  or  a  majority  of 
them,  may  appoint  all  such  officers,  engineers,  agents,  or  ser¬ 
vants,  whatsoever,  as  they  may  deem  necessary  for  the  transac¬ 
tion  of  the  business  of  the  company,  and  may  remove  any  of 
them  at  their  pleasure ;  that  they,  or  a  majority  of  them,  shall 
have  the  power  to  determine,  by  contract,  the  compensation  of 
the  engineers,  officers,  agents,  or  servants,  in  the  employ  of  said 
company,  and  to  determine,  by  their  by-laws,  the  manner  of  ad¬ 
justing  and  settling  all  accounts  against  the  said  company,  and 
also  the  manner  and  evidence  of  transfers  of  stock  in  said  com¬ 
pany  ;  and  they,  or  a  majority  of  them,  shall  have  power  to  pass 
by-laws  which  they  may  deem  necessary  or  proper,  for  exercis¬ 
ing  all  the  powers  vested  in  the  company  hereby  incorporated, 
and  for  carrying  the  objects  of  this  act  into  effect:  Provided, 
only,  that  such  by  laws  shall  not  be  contrary  to  the  laws  of  this 
state  or  of  the  United  States. 

Sec.  15.  That  if  any  person  shall,  wilfully,  by  any  means 
whatsoever,  injure,  impair,  or  destroy  any  part  of  said  railroad 
constructed  by  said  company  under  this  act,  or  any  of  tho  ne¬ 
cessary  works,  buildings,  cars  or  machinery  of  the  said  cempa- 


14 


ny,  such  person  or  persons,  so  offending,  shall,  each  of  them,  for 
every  such  offence,  forfeit  and  pay  to  the  said  company,  by  an 
action  of  debt,  with  costs  of  suit,  in  any  court  having  cognizance 
thereof,  and  shall  also  be  subject  to  an  indictment  in  the  court 
of  common  pleas  of  the  county  where  such  offence  may  be  com¬ 
mitted,  and,  upon  conviction  of  such  offence,  shall  be  punished 
by  fine,  not  exceeding  five  hundred  dollars,  and  imprisonment 
in  the  jail  of  said  county  not  exceeding  ten  days. 

Sec.  16.  That  said  corporation  shall  have  power  to  locate 
and  construct  branched  roads  from  the  main  route,  to  other 
towns  or  places  in  the  several  counties  through  which  said  road 
may  pass. 

Sec.  17.  That  this  company  may,  and  they  are  hereby  au¬ 
thorized  to  commence,  complete,  and  put  in  operation,  any  part 
of  said  road,  or  any  branch  thereof,  aforesaid,  at  any  point  on 
the  route  of  said  railroad,  which  the  interests  of  the  company 
may  require  to  be  first  commenced  and  completed  ;  and  that  the 
said  company  may  command  and  receive  the  same  rate  of  toll 
and  transportation,  and  all  the  benefits  that  would  accrue  to 
each  division  so  commenced  and  completed,  as  fully  as  if  the 
entire  work  were  commenced,  completed,  and  put  in  operation, 
as  aforesaid. 

Sec  18.  If  the  installments  remain  unpaid  for  sixty  days 
after  the  time  of  payment  has  elapsed,  the  directors,  in  the 
name  of  the  company,  may  collect  the  same  by  suit,  or  may  sell 
the  stock  at  public  auction  for  the  installments  then  due,  giving 
twenty  days’  notice  of  the  time  and  place  of  sale,  by  advertise¬ 
ment  in  some  newspaper  of  general  circulation  in  the  county 
where  such  sale  is  to  be  made,  and  the  residue  of  the  money 
arising  from  such  sale,  after  paying  such  installments  and  costs, 
shall  be  paid  over  to  the  former  owner. 

Sec.  19.  That  it  shall  be  the  duty  of  the  directors  to  keep 
open  books  of  subscription  at  the  office  of  the  company,  until 
the  number  of  shares  authorized  by  this  act  shall  be  subscribed. 

Sec.  20.  That  said  company  shall  not  contract  debts  or  lia¬ 
bilities  to  a  greater  amount  than  the  stock  subscribed  and  held 
by  responsible  stockholders,  remaining  unexpended,  together 
with  the  means  on  hand,  and  that  which  may  be  reasonably  ex¬ 
pected  to  accrue  within  three  years  from  the  time  of  making 
such  contract,  unless,  at  the  time  of  making  such  contract,  the 
party  contracting  with  said  company  be  informed  of  such  want 
of  means  on  the  part  of  such  company,  and,  by  agreement  in 
writing,  specify  the  time  and  manner  in  which  such  debt  shall 
be  paid. 

Sec.  21.  The  governor  shall  have  the  power  to  prescribe 


15 


what  price  may  be  charged  by  said  company  for  the  transporta¬ 
tion  of  the  public  mails  of  the  United  States,  and  of  the  troops 
and  munitions  of  war  belonging  to  this  state  and  to  the  United 
States,  should  the  board  of  public  works,  at  any  time,  entertain 
the  opinion  that  the  prices  charged  therefor  by  such  company 
are  unreasonably  high ;  but  such  power  shall  not  extend  so  far 
as  to  control  the  time  or  times  of  the  arrival  and  departure  of 
the  cars  on  said  road,  or  in  any  other  manner  interfere  with  the 
regulations  of  such  company. 

Sec.  22.  After  the  lapse  of  ten  years  from  the  completion 
of  said  road,  the  state  shall  have  the  power  to  reduce  the  tolls 
upon  said  road,  should  they  be  unreasonably  high,  and  exereise 
the  same  power  at  intervals  of  every  ten  years  thereafter. 

Sec.  23.  At  any  time  after  ten  years  from  the  completion 
of  said  railroad,  the  said  company  shall  be  liable  to  pay  to  the 
state,  upon  such  property  transported  on  said  road  through 
the  line,  during  the  season  of  canal  navigation  in  this  state,  as 
the  board  of  public  works,  by  whatever  designation  it  may  be 
known,  shall  be  of  the  opinion  would  have  been  transported  on 
the  Ohio  Canal  but  for  the  existence  of  said  road,  such  tolls  as 
shall  be  equal  to  one-half  the  tolls  charged  by  the  state,  at  the 
time,  on  like  property  transported  on  the  Ohio  Canal. 

Sec.  23.  If  the  company  shall  be  dissatisfied  with  the  opin¬ 
ion  of  the  board  of  public  works,  as  to  the  amount  of  property 
which,  but  for  the  said  road,  would  have  been  transported  on  the 
Ohio  Canal,  they  may  review  the  same  by  instituting  proceed¬ 
ings  in  the  supreme  coourt  of  Franklin  cunty,  as  in  chancery, 
making  the  state  and  the  board  of  public  works  parties  thereto ; 
and  the  said  court  may  make  such  orders  and  decrees  therein 
as  they  shall  deem  proper  to  accomplish  the  objects  of  the  sec¬ 
tion  next  above. 

ELIAS  F.  DRAKE, 

Speaker  of  the  House  of  Representatives. 
SEABURY  FORD, 

Speaker  of  the  Senate. 


March  2,  1846. 


AN  ACT 

TO 

AMEND  THE  ACT  TO  INCORPORATE  THE  JUNC¬ 
TION  RAILROAD  COMPANY,  PASSED 
MARCH  2nd,  1846. 

Sec.  1.  Be  it  enacted  by  the  General  Assembly  of  the  State 
of  Ohio ,  That  the  Junction  Railroad  Company  is  hereby  au¬ 
thorized  to  extend  its  line  of  railroad  to  some  point  on  the 
Maumee  river,  with  the  privilege  of  transporting  goods  and 
passengers  transported  on  the  road  of  said  companies,  across 
said  river,  by  a  ferry,  or  otherwise,  as  the  directors  thereof  shall 
elect,  to  the  city  of  Toledo  :  Provided,  that  said  company  shall, 
in  no  wise  obstruct  or  hinder  the  navigation  of  said  river.  And 
the  capital  stock  of  said  company  is  increased  to  three  millions 
of  dollars. 

Sec.  2.  That  the  counties,  townships,  cities  and  incorporated 
towns  through  which  said  railroad  may  be  located,  are  hereby 
authorized  to  subscribe  to  the  stock  of  said  railroad,  in  the 
manner  and  on  the  conditions  hereinafter  prescribed  :  Provi¬ 
ded,  the  amount  subscribed  by  each  of  said  counties  shall  not 
exceed  the  sum  of  one  hundred  thousand  dollars  ;  Provided, 
nevertheless,  that  nothing  in  this  act  shall  be  so  construed  as  to 
include  the  county  of  Lorain,  or  any  township  or  incorporated 
city  or  town  in  said  county :  and  the  amount  subscribed  by  each 
township  shall  not  exceed  five  per  cent,  of  the  value  of  the  tax¬ 
able  property  of  such  township,  on  the  tax  duplicate  of  the 
year  1850. 

Sec.  3.  No  subscription  shall  be  made  by  any  such  county, 
until  a  vote  shall  have  been  had  in  favor  of  such  subscription, 
in  the  manner  pointed  out  in  the  act  regulating  the  mode  of 
proceeding  where  county  commissioners  are  authorized  by  law 
to  subscribe  to  the  capital  stock  of  railroads,  turnpike  roads 


and  other  incorporated  companies  in  this  state,  passed  Februa¬ 
ry  twenty-eight,  A.  D.  one  thousand  eight  hundred  and  forty- 
six.  But  the  vote  in  that  behalf  may  be  taken  either  at  any 
annual  election  or  at  any  special  election  holden  for  that  pur¬ 
pose,  at  the  call  of  the  commissioners  of  the  proper  county, 
upon  twenty  days  notice. 

Sec.  4.  Before  the  subscription  of  any  township,  city  or  in¬ 
corporated  town  shall  be  made,  th^  expediency  thereof  shall  be 
submitted  to  a  vote  of  the  electors  of  such  township,  city  or 
incorporated  town,  where  a  vote  may  be  taken,  either  at  any 
annual  election  or  at  a  special  election  to  be  held  for  that  pur¬ 
pose.  In  either  case,  the  trustees  or  proper  municipal  authori¬ 
ties  shall  give  notice  at  least  ten  days  previous  to  such  election, 
by  posting  in  five  of  the  most  public  places  in  such  township, 
town  or  city  :  and  the  qualified  voters  voting  at  such  election 
shall  vote  by  ballot,  “  For  subscription,”  or  “  Against  subscrip¬ 
tion  and  the  result  shall  be  certified  by  the  judges  of  election 
to  the  county  auditor,  and  filed  by  him.  In  case  a  majority  of 
the  votes  given  shall  be  favorable  to  subscription,  the  trustees 
of  the  proper  township,  or  the  presiding  officer  of  the  proper 
municipal  authority,  shall  subscribe  the  amount  voted  for. 

Sec.  5.  For  the  payment  of  such  subscription,  the  proper 
commissioners,  and  trustees,  and  municipal  authorities  are  au¬ 
thorized  to  borrow  any  sum  of  money,  at  a  rate  of  interest  not 
exceeding  seven  per  cent.,  payable  semi-annually,  in  advance, 
either  in  the  city  of  New  York  or  elsewhere  ;  and  may  make 
negotiable  bonds,  or  such  other  evidences  of  debt,  as  are  neces¬ 
sary  and  proper  to  secure  the  payment  of  the  same,  and  shall 
annually  levy  and  collect  by  tax  such  money  as,  together  with 
dividend  and  property  said  stock,  will  pay  the  said  debt  and  in¬ 
terest,  as  the  same  shall  become  due,  and  all  incidental  charges. 

Sec.  5.  All  taxes  which  shall  be  levied  under  the  foregoing 
section,  shall  be  certified  by  the  respective  commissioners,  and 
trustees,  and  municipal  authorities,  to  the  county  auditor  of  the 
proper  county,  and  by  him  shall  be  placed  on  the  county  dupli¬ 
cate,  and  assessed  and  collected  like  state  and  county  and  town¬ 
ship  taxes,  upon  the  property  liable  to  pay  the  same ;  and  when 
collected,  shall  be  paid  over  by  the  county  treasurer,  on  the  or¬ 
der  of  the  proper  authorities,  to  the  persons  entitled  to  the 
same. 

Sec.  7.  Whenever  any  bonds,  orders,  or  any  other  eviden¬ 
ces  of  indebtedness,  or  the  interest  thereon,  shall  remain  un¬ 
paid  after  they  become  due,  it  shall  be  lawful  for  the  creditor 
holding  such  bond  or  other  evidence  of  indebtedness,  to  apply 
to  the  auditor  of  the  proper  county,  and  on  filing  sucih  obliga- 


18 


tion  with  him,  he  shall  assess  against  the  property  liable  to  pay 
such  arrear  a  tax  to  the  amount  necessary  to  pay  the  arrear  and 
costs,  and  shall  enter  the  same  upon  the  county  duplicate,  to  be 
collected  in  the  manner  of  state  and  county  taxes. 

Sec.  8.  The  provisions  of  the  act  passed  January  31,  1850 
respecting  the  sale  of  the  bonds  of  the  Columbus  and  Lake  Erie 
Railroad  Company,  and  of  the  Central  Railroad  Company,  shall 
apply  to  the  said  Junction  Railroad  Company,  and  to  such  bonds 
as  shall  be  issued  by  virtue  of  this  act ;  and  the  issuing  of  said 
“  Railroad  Company’s”  bonds,  and  of  said  other  bonds,  shall  be 
taken  as  evidence  in  all  courts  of  law  and  equity,  that  all  pre¬ 
liminary  conditions  have  been  complied  with. 

JOHN  F.  MORSE, 
Speaker  of  the  House  of  Representatives. 
CHARLES  C.  CONYERS, 

Speaker  of  the  Senate , 

January  22,  1851. 


AN  ACT 

RESPECTING  THE  SALE  OF  BONDS  OF  THE  CO¬ 
LUMBUS  AND  LAKE  ERIE  RAILROAD  COMPA¬ 
NY,  &c.,  PASSED  MARCH  31,  1850,  REFERRED 
TO  IN  THE  8th  SECTION  ABOVE. 

§  1.  Beit  enacted  by  the  General  Assembly  of  the  State  of 
Ohio ,  That  the  directors  of  the  Columbus  and  Lake  Erie 
Railroad  Company  are  hereby  authorized  to  sell  or  negotiate 
the  notes  or  bonds  issued  by  said  company,  at  such  places,  ei¬ 
ther  within  or  without  the  state,  and  at  such  rates,  as  in  their 
opinion  will  best  advance  the  interests  of  said  company;  and  if 
such  bonds  or  notes  are  thus  sold  at  a  discount,  that  such  sale 
shall  be  as  valid,  in  every  respect,  as  if  sold  at  their  par  value. 


19 


A  COPY  OF  THE  BOND  OF  THE  CITY  OF  OHIO. 


$1000, 


CITY  OF  OHIO. 


The  City  of  Ohio  doth  hereby  acknowledge  itself  indebted 
unto  the  junction  Railroad  Company,  in  the  sum  of  one  thou¬ 
sand  dollars,  which  sum  the  said  City  of  Ohio  doth  hereby 
promise  to  pay  to  the  said  Junction  Railroad  Company,  or 
bearer,  on  the  1st  day  of  April,  1865,  at  the  office  of  the  Ohio 
Life  Insurance  and  Trust  Company  in  the  city  of  New  York, 
with  interest  at  the  rate  of  seven  per  cent,  per  annum,  payable 
at  the  same  office,  on  delivery  of  the  respective  interest  warrants 
hereunto  attached.  ^ 

This  bond  is  No.  of  a  series  of  one  hundred  bonds  of  like  • 
tenor  and  date,  issued  by  said  city  in  payment  of  the  subscrip¬ 
tion  of  said  city  to  the  stock  of  the  Junction  Railroad  Compa¬ 
ny,  under  the  provisions  of  the  act  of  the  legislature  of  Ohio, 
authorizing  Ohio  City  to  subscribe  to  the  capital  stock  of  the 
Ohio  Railroad  Company  and  for  other  purposes,  passed  Febru¬ 
ary  14,  1851.  And  the  said  City  of  Ohio  doth  hereby  covenant 
with  the  holder  of  this  bond,  that  the  said  stock  by  them  sub¬ 
scribed  shall  be  held  as  a  pledge  and  security  for  the  redemption 
of  this  series  of  bonds ;  and  that  the  holder  of  this  bond  may  at 
any  time  surrender  the  same  and  receive  an  equal  amount  of 
stock  at  its  par  value,  unless  such  stock  shall  have  been  previ¬ 
ously  appropriated  to  such  redemption. 

And  the  said  City  of  Ohio  doth  hereby  further  covenant  with 
the  holder  of  this  bond,  that  the  commissioners  appointed  by 
said  act,  and  their  successors,  shall  severally  execute  the  sev¬ 
eral  duties  to  them  therein  prescribed,  and  that  they  shall  do 
all  lawful  acts  necessary  to  insure  the  punctual  payment  of  all 
the  monies  in  this  bond. 

In  witness  whereof,  the  said  City  of  Ohio  hath  caused  the  seal 
of  the  city  to  be  affixed  hereunto,  and  the  same  to 
[L.  S.]  be  signed  by  the  commissioners  aforesaid,  this  81st 
day  of  March,  1851. 

(Signed)  II.  S.  Whitmore,') 


[L.  S.] 


D.  Sanford, 
T.  Burnham, 
C.  L.  Russel, 


Commissioners ,  fyc. 


R.  B.  Dennis 


R.  B.  Dennis,  J 
Secretary . 


20 


FORM  OF  INTEREST  WARRANT. 

Interest  Warrant  No.  - .  $70. 

On  the  1st  day  of  April,  185—,  at  the  office  of  the  Ohio  Life 
Insurance  and  Trust  Company,  in  the  city  of  New  York,  the 
City  of  Ohio  will  pay  the  bearer  seventy  dollars,  interest  on 
its  bond  No.  - . 

R.  B.  Dennis,  Secretary. 


PART  OF  AN  ACT  TO  AUTHORIZE  OHIO  CITY  TO  SUB- 

SCRIBE  TO  THE  CAPITAL  STOCK  OF  THE  OHIO  RAIL¬ 
ROAD  COMPANY,  AND  FOR  OTHER  PURPORES. 

Sec.  1.  Be  it  enacted  by  the  General  Assembly  of  the  State 
of  Ohio ,  That  Ohio  City  is  hereby  authorized  to  subscribe  to 
the  capital  stock  of  the  Ohio  Railroad  Company,  or  to  the  stock 
of  any  other  Railroad  Company  authorized  to  construct  a  rail¬ 
road  from  Cleveland  to  Sandusky  CLty)  at  the  discretion  of 
the  commissioners  hereafter  named,  a  sum  not  exceeding  in  the 
whole  one  hundred  thousand  dollars.  And  the  commissioners 
hereafter  named,  or  a  majority  of  them,  are  hereby  empowered 
to  make  subscriptions,  in  the  name  of  Ohio  City,  in  such  number 
of  shares,  from  time  to  time,  and  under  such  restrictions  and 
conditions,  as  to  them  may  seem  expedient ;  and,  for  the  pur¬ 
pose  of  paying  the  installments  thereon,  may  issue  bonds,  scrip 
or  other  contracts,  in  proper  form,  in  the  name  of,  and  binding 
said  city — -bearing  interest  payable  annually,  either  at  the  city 
of  Ohio,  aforesaid,  or  in  the  city  of  New  York,  of  Boston,  or  of 
Philadelphia,  as  said  companies  may  stipulate  ; — the  principal 
thereof  to  be  payable  at  such  time  or  times,  not  less  than  ten 
years  after  the  date  of  said  subscription,  as  may  be  thought 
most  for  the  advantage  of  the  city.  And  the  shares  of  stock  so 
subscribed,  and  the  avails  arising  from  the  sales  thereof,  shall  be 
held  for  the  purpose  of  paying  the  principal  of  such  bonds,  scrip, 
or  other  contracts ;  and  shall  be  subject  to  no  other  liability  of 
the  city  whatever,  so  long  as  such  •bonds,  scrip,  or  other  con¬ 
tracts  shall  remain  unpaid. 

Sec.  3.  The  said  commissioners  shall  keep  an  accurate  re¬ 
gister  of  all  bonds,  scrip,  or  other  evidence  of  indebtedness 
issued  by  them,  showing  the  debts,  numbers  and  amounts  there¬ 
of,  the  names  of  the  persons  to  whom,  and  the  times  at  which, 


21 


ttie  same  shall  be  made  payable ;  a  copy  of  which  shall  be  de¬ 
posited  with  the  city  council,  within  six  months  after  the  same 
shall  have  been  issued  ;  and  all  alterations  thereof  shall  be  noti¬ 
fied  to  said  city  council,  within  six  months  after  such  alteration 
shall  have  been  made.  They  shall,  also,  on  or  before  the  first 
Monday  of  June  of  each  year,  make  out  a  statement  in  writing 
to  the  auditor  of  Cuyahoga  county,  showing  the  amount  of  prin¬ 
cipal  and  interest,  which  shall  be  due  and  payable  on  such  evi¬ 
dence  of  indebtedness,  within  one  year  thereafter,  and  any 
deficiency  which  may  already  exist — the  amount  expected  to  be 
received  from  dividends  on  said  shares  of  stock,  or  from  the  sale 
of  any  portion  thereof,  and  the  amount  of  tax  which  they  may 
deem  necessary  or  expedient  to  be  levied  to  pay  such  interest 
and  such  principal  falling  due.  And  it  shall  be  the  duty  of  said 
auditor,  on  receiving  such  statement,  to  assess  upon  the  property 
of  said  city,  and  on  any  territory  which  may  hereafter  be  added 
to  said  city,  subject  to  taxation  for  state  or  county  purposes, 
such  per  centage  of  tax  as  may  be  sufficient  to  raise  the  amount 
thus  stated  to  him,  and  the  costs  of  collection  thereof,  and  to  en¬ 
ter  the  same  in  the  proper  sums,  chargeable  on  the  separate 
parcels  of  property  subject  to  such  tax,  on  the  duplicate  list  of 
said  county,  in  a  separate  column, — to  be  collected  by  the  treas¬ 
urer  of  said  county,  as  other  taxes  assessed  on  the  property  of 
said  city,  subject  to  taxation  for  general  purposes,  are  by  law  to 
be  collected.  And  the  taxes  so  assessed  shall  be  a  lien  on  the 
property  chargeable  therewith,  as  taxes  for  state  and  county 
purposes  are  or  may  be,  by  law,  liens  thereon. 

Sec.  4.  That  Henry  L.  Whitmore,  Daniel  Sanford,  Thomas 
Burnham,  R.  B.  Dennis  and  C.  L.  Russel  and  their  successors 
are  hereby  constituted  commissioners  under  this  act :  and  in 
case  of  vacancy,  either  by  reason  of  death,  resignation,  removal 
from  Cuyahoga  county,  or  any  other  cause,  (except  removal  from 
office,  by  the  Supreme  Court,  as  herein  provided,)  the  remaining 
commissioners,  or  a  majority  of  them,  shall  appoint  a  suitable 
person  to  fill  such  vacancy ;  and  shall  give  to  him  or  them  a 
certificate  in  writing  of  such  appointment.  And  he  or  they 
shall  thereupon  be  entrusted  with  the  same  powers,  and  be  sub¬ 
ject  to  the  same  duties,  and  shall  give  the  same  bonds  as  herein 
provided,  as  if  originally  appointed  by  this  act. 

The  other  sections  of  this  act  relate  to  the  duties  of  the  com¬ 
missioners 


22 


A  COPY  OF  PORTLAND  TOWNSHIP  BOND* 

$1000. 

PORTLAND  TOWJSS.I1P  BOND. 

Whereas  the  trustees  of  the  township  of  Portland,  within 
which  township  is  situated  the  city  of  Sandushy,  by  the  act  of 
the  legislature  of  Ohio,  passed  January  21,  1851,  are  authoriz¬ 
ed  to  borrow  any  sum  of  money  not  exceeding  one  hundred 
thousand  dollars,  bearing  interest  at  the  rate  of  seven  per  cent¬ 
um  per  annum,  payable  semi-annually,  at  the  city  of  New  York, 
and  to  impose  an  annual  tax  on  the  real  estate  of  said  township, 
to  pay  the  interests  of  said  bonds,  as  the  same  should  become 
due,  after  first  applying  the  dividends  of  the  stock  thus  sub¬ 
scribed 

And  whereas  the  Junction  Railroad  Company,  by  several 
acts  of  the  legislature  of  Ohio,  is  authorized  to  construct  a  rail¬ 
road  from  said  Sandusky  City  to  some  point  on  the  Maumee 
river,  and  to  receive  subscriptions  to  its  stock,  as  well  from  the 
counties,  townships,  towns  and  cities  through  which  it  may  be 
located,  as  from  individuals ; — * 

And  whereas  the  trustees  of  said  Portland  township,  under 
the  authority  of  the  act  aforesaid  first  above  mentioned,  have 
subscribed  to  the  said  Junction  Railroad  Company  two  thou¬ 
sand  shares  of  stock,  amounting  each  to  the  sum  of  fifty  dol¬ 
lars  : — 

Know  all  men,  by  these  presents,  that  the  trustees  of  Port¬ 
land  township,  in  the  county  of  Erie  and  state  of  Ohio,  on  be¬ 
half  of  said  township,  hereby  acknowledge  to  owe  unto  the  Junc¬ 
tion  Railroad  Company,  or  bearer,  the  sum  of  one  thousand 
dollars,  for  the  payment  of  which,  on  the  first  day  of  July,  1865, 
at  the  office  of  the  Ohio  Life  Insurance  and  Trust  Company,  in 
the  city  of  New  York,  with  interest  at  the  rate  of  seven  per 
centum  annum,  payable  at  the  same  place,  semi-annually,  on  the 
successive  first  days  of  January  and  July  of  each  year,  upon 
surrender  of  the  respective  interest  warrants  hereunto  annexed, 
the  said  trustees,  on  behalf  of  said  township,  bind  themselves 
and  their  successors  firmly  by  these  presents,  signed  with  their 
hands,  and  sealed  with  the  seal  of  said  township,  on  this  first 
day  of  July,  A.  D.  1851. 

And  further  know  ye,  that  the  said  trustees,  for  themselves 
and  their  successors  in  office,  on  behalf  of  said  township,  hereby 
furthe  ragree  with  the  holders  of  this  bond,  that  they  will  at  all 
times  execute  the  duties,  prescribed  in  said  act,  in  assessing  said 
tax,  and  that  they  will  do  any  other  lawful  act  to  perform  and 
enforce  this  obligation,  according  to  its  true  intent  and  mean- 


23 


ing.  And  especially  said  trustees,  for  themselves  and  succe3* 
sors,do  further  covenant  to  hold  the  stock  of  said  Railroad  Com¬ 
pany,  which  they  have  received  on  their  said  subscription,  as  a 
security  and  pledge  for  the  punctual  payment  of  this  series  of 
one  hundred  obligations  of  like  tenor  or  date,  numbered  from 

one  to  one  hundred,  of  which  this  bond  is  No. - ;  and  they 

will  dispose  of  said  stock  for  no  other  purpose,  except  to  pay  the 
same,  and  that  they  will  at  all  times  exchange  an  equal  amount 
of  said  stock,  at  its  par  value,  for  said  bonds,  or  any  of  them, 
unless  the  same  shall  have  been  applied  in  payment  of  said 
bonds. 

In  witness  whereof,  the  trustees  and  clerk  of  said  township 
have  hereunto  set  their  names  and  the  seal  of  said 
township. 

(Signed)  R.  Hatheway, 

.  S.]  W.  H.  Clark, 

Geo.  W.  Smith 
John  B*  Norris,  Clerk. 


(  Trustees  of 
(  Portland  Township. 


Interest  Warrant  No.  - ,  for  $35. 


On  the  first  day  of  January,  1 85-,  the  trustees  of  Portland 
township  will  pay  the  bearer,  at  the  office  of  the  Ohio  Life  In¬ 
surance  and  Trust  Company,  in  New  York,  thirty-five  dollars, 
for  interest  on  their  bond  No. - . 


April  1,  1851. 


J.  B.  Norris,  Clerk. 


PART  OF  AN  ACT  AUTHORIZING  THE  TRUSTEES  OF  PORT¬ 
LAND  TOWNSHIP,  ERIE  COUNTY,  TO  SUBSCRIBE 
STOCK  TO  A  RAILROAD  COMPANY,  PASSED 
JANUARY  21,  1851. 

Sec.  1.  Be  it  enacted  by  the  General  Assembly  of  the  State 

of  Ohio ,  That  the  trustees  of  Portland  township  be,  and  they  are 
hereby  authorized  to  borrow  any  sum  of  money,  not  exceeding 
one  hundred  thousand  dollars,  to  be  by  them  subscribed  as  stock 
to  any  company  that  may  be  now,  or  at  any  time  hereafter,  au¬ 
thorized  to  construct  a  railroad  from  Sandusky  City  to  some 
point  on  the  Maumee  river,  in  continuation  of  the  Junction  Rail¬ 
road,  which  may  be  determined  upon  by  any  company  construct¬ 
ing  said  road. 

Sec.  2.  That  said  trustees  be,  and  are  hereby  authorized  to 


24 


issue  bonds  of  said  township  for  the  sum  of  one  hundred  thou¬ 
sand  dollars,  bearing  seven  per  centum  per  annum  interest,  to 
be  paid  semi-annually,  in  the  city  of  New  York  or  elsewhere. 
And  the  said  trustees  are  hereby  authorized  and  empowered  to 
impose  an  annual  tax  on  all  real  estate  in  said  township,  to  pay 
the  interest  on  said  bonds,  and  so  much  of  the  principal  as  may 
become  due:  provided,  that  all  dividends  arising  from  the  sums 
so  subscribed  as  stock,  as  in  the  first  section  of  this  act  is  men¬ 
tioned,  shall  be  first  applied  to  such  purposes. 

Sec.  3.  That  said  trustees  shall,  in  assessing  such  tax,  be 
governed  by  the  valuation  of  the  real  estate  in  said  township, 
which,  at  the  time  of  such  assessment,  forms  the  basis  of  taxa¬ 
tion  for  state  and  county  purposes  ;  which  tax,  when  so  assessed 
by  said  trustees,  shall  be  by  them  given  to  the  auditor  of  said 
county  of  Erie,  who  shall  cause  the  same  to  be  entered  upon 
the  tax  duplicate,  as  in  other  cases ;  and  the  same  shall  be  col¬ 
lected  by  the  treasurer  of  said  county,  in  the  same  manner  that 
all  other  taxes  on  real  estate  are  collected  in  said  county,  and 
held  by  him,  subject  to  the  order  of  the  trustees  of  said  town¬ 
ship,  for  the  purposes  aforesaid.  And  if,  at  any  time,  the  inter¬ 
est  or  principal  to  become  due,  or  any  of  the  said  bonds  hereby 
authorized  to  be  issued,  shall  remain  unpaid,  after  the  same 
shall  become  due,  according  to  the  tenor  and  effect  thereof,  the 
right  is  hereby  given  to  any  holder  of  said  bond  or  bonds,  to 
apply  to  any  court  of  competent  jurisdiction,  for  a  mandamus, 
to  enforce  the  levy  of  tfie  taxes  authorized  and  provided  by  this 
act,  sufficient  for  the  payment  of  the  amount  in  arrear,  or  due 
to  such  bond-holder,  according  to  the  rules  and  usages  of  the 
common  law  against  corporate  bodies. 

Sec.  5.  That  the  bonds  herein  provided  to  be  issued  may 
be  sold  and  negotiated  by  such  trustees,  at  such  time,  and  at 
such  places,  either  within  or  without  the  state,  and  at  such  rate 
or  price,  as  may  be  deemed  for  the  interest  of  said  township. 
And  if  such  bonds  shall  be  sold  at  a  discount,  such  sale  shall 
be  as  valid,  in  every  respect,  as  if  they  were  sold  at  their  par 
value. 

Sec.  6.  The  issuing  of  the  said  bonds  shall  be  held  by  all 
courts  of  law  and  equity  as  evidence  that  the  provisions  of  this 
act  have  been  in  all  respects  complied  with. 

The  other  sections  relate  to  the  duties  of  the  trustees. 


25 


MAUMEE  CITY  BONDS. 

Maumee  City  is  situated  nine  miles  above  Toledo  at  the  lower 
Rapids,  and  head  of  Navigation  of  the  Maumee  River,  and  at 
the  first  connection  of  the  Miami  Extension  and  Wabash  and 
Erie  Canals,  with  navigable  water. 

The  town  was  laid  out  nearly  twenty  years  ago,  and  extends 
nearly  three  miles  along  the  River.  In  the  decline  of  business 
which  followed  that  era  of  wild  speculation,  it  shared  the  for¬ 
tunes  of  other  similar  towns.  But  its  large  Water-power,  rem 
dered  more  valuable  by  the  rarity  of  Mill  Seats  in  that  part  of 
the  country,  soon  began  to  be  improved,  and  it  has  steadily 
increased  in  population  and  business,  for  the  last  eight  years. 
It  now  contains  2,000  inhabitants,  and  is  the  seat  of  justice  of 
the  County.  The  assessed  value  of  real  estate  in  the  City,  for 
tax  purposes  is  $230,040,  and  the  value  of  personalty  is  $74,- 
276. 

The  mill  power  is  created  by  water  from  the*Canal.  Eighteen 
miles  above  the  town,  at  the  head  of  the'  Rapids,  the 
State  has  constructed  a  Dam  across  the  River,  by  which 
the  whole  water  can  be  commanded  for  Canal  purposes.  The 
Canal,  from  the  Dam  downwards  to  Manhattan,  (30  miles,)  is 
one  hundred  feet  wide  and  six  feet  deep,  and  was  intended  to  be 
used  not  only  for  navigation,  but  for  a  Reservoir,  sufficient  for 
a  large  waiter  powrer,  in  Mills  beyond  the  reach  of  flood,  and 
similar  casualties.  The  first  and  highest  dicharge  of  surplus 
water  is. at  Maumee,  which  is  the  head  of  Lake  navigation. — 
Not  more  than  one  third  of  the  wrater-power  at  Maumee  is  in 
use ;  yet,  there  is  already  constructed  five  large  Merchant  Mills, 
which  annually  grind  75,000  barrels  of  flour;  three  Saw-mills 
which  annually  cut  1,500,000  feet  of  lumber;  two  Carding 
Machines,  one  Woolen  Factory,  an  Oil  Mill  and  a  Stave  Fac¬ 
tory.  Other  manufacturing  establishments  in  town,  are  two 
Founderies,  two  large  Chair  Manufactories,  two  Pump  and  Bed¬ 
stead  Manufactories,  and  two  Tanneries.  Shipbuilding  has 
been  prosecuted  to  considerable  extent,  and  will  be  resumed  as 
soon  as  a  demand  for  new  vessels  shall  arise  on  the  Lake.  The 
possession  of  this  water-power,  and  the  disposition  of  the  in¬ 
habitants  to  use  it,  has  encouraged  the  expectation  that  a  manu¬ 
facturing  towm  of  considerable  size  will  grow  up,  with  little  to 
fear  from  competition  by  any  other  neighboring  point. 

The  City  has  no  debt.  The  township  within  which  the  City 


26 


is  situated,  and  which  comprises  a  much  larger  territory,  has 
invested  $10,000  in  Plank  Roads,  which  are  nearly  finished, 
and  are  beginning  to  repay  the  investment  with  large  interest,  and 
which,  therefore  are  regarded  no  burden.  The  township  has 
likewise  contributed  something  less  than  five  per  cent,  of  its  tax¬ 
able  property  to  the  Junction  Railroad. 

The  inducements  for  the  subscription  to  the  Junction  Rail- 
Road,  by  this  Municipality  were,  that  it  furnished  not  only  a 
communication  with  Sandusky,  Cleveland  and  the  Eastern  Ci¬ 
ties,  but  South-westward  likewise,  to  the  Valley  of  the  Wabash 
and  to  Cincinnati.  On  the  Cincinnati  line,  a  Railway  is  al¬ 
ready  opened  to  Dayton,  and  is  in  progress  nearly  fifty  miles 
beyond,  towards  Toledo  and  Detroit.  The  other  line  from  St. 
Louis,  and  Quincy,  by  Alton,  Springfield,  Covington,  Lafay¬ 
ette  and  Logansport,  to  Fort  Wayne,  j  passes  a  region  more 
fertile,  more  productive  and  destined  to  be  more  populous  than 
any  other  rural  district  of  equal  extent  in  the  United  States,  and 
many  miles  are  in  construction  at  its  West  end.  Both  these 
lines  must  descend  the  Maumee  River, and  the  developement  of  pop¬ 
ulation  and  business  will  enforce  the  completion  of  both  at  no 
distant  day.  The  Directors  of  the  Juntion  Railroad  regard  it 
not  premature  to  anticipate  the  result  and  to  meet  this  coming 
work  at  the  West  line  of  Ohio. 

The  Maumee  City  Bonds  are  issued  in  sums  of  $1,000  with 
interest  at  7  per  cent.,  payable  at  the  office  of  the  Ohio  Trust 
Company  in  New  York. 


